Plug Power (PLUG) stock

Green hydrogen , market cap $1.9B

Green hydrogen

Worth $1.9B

$1.37

-9.00%

As of Tuesday's close · Live for Pro members at the open

Why is PLUG down?

Down 32% in 3 months while the S&P 500 fell 2%.

Its Nov 9 results: net cash usage was $28M, down 54%. It fell 9% on Nov 10.

Sources: Price history, Nov 9, 2026; Company release, Nov 9, 2026

−3Long-term trend below a falling 200-day average, down over one year, down over two years

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1 more reason, free with an account →2 more reasons why PLUG is down, from its filings, with the other side and the timeline, for Pro members.

Quality Score

-4

Poor

In its industry

#7of 9

Power & Fuel Cells

Checks firing

1of 14

Trending down

From 52-week high

-68.5%

under its best in a year

PLUG's Quality Score fell 3 points on Tue, Nov 10, to -4. Buying slipped from its highest in 20 days (3 chart checks stopped).

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Key facts on PLUG

Key facts on PLUG
Since its Nov 2021 high	Down 97% a $460M loss → a $1.18B loss a year
Latest filing	8-K, Nov 9 Reported its quarterly results

1 more reason behind PLUG's -4, free with an account →3 more reasons behind PLUG's -4, for Pro members.

PLUG in the news

ReportLast night: sales of $200.6M. Past reports ›

What's next

Tue Nov 17: ROTH 15th Annual Technology…Investor conference · date confirmed.

2 more dates ahead: conferences, for Pro members.

Tested. Our top-scored stocks returned 2.2x the average stock over the next month. Reconstructed after the fact; recorded live since Sep 9, 2026. How we tested it

PLUG catalysts

Coming up

After its last 4 reports it closed +5.1% on average, higher 3 of 4 times.

40 past catalysts since 2019, with sizes and sources, for Pro members.

How PLUG ranks in Power & Fuel Cells

PLUG is #7 of 9 by Quality Score.

How PLUG ranks in Power & Fuel Cells
Rank	Stock	Checks	Quality Score
1	BEBloom Energy	0/14	10
2	WWDWoodward	4/14	8
3	FPSForgent Power Solutions	4/14	7
	ACCVAccelevation		Open for its score
	EROCERock		Open for its score
7	PLUGPlug Power	1/14	-4

Share count against a year before: PLUG +20%, FCEL +188%.

When does PLUG report earnings, and what happens after?

Expected to report Mon Mar 1, after the close (in 111 days).

What an earnings report is: every 3 months, a company tells everyone how much it sold and earned. We read the figures, the outlook, and how the stock moved after.

What PLUG reported on Nov 9, 2026

The quarter

Sales of $200.6M, 13% more than a year ago.

“Fuel revenue increased ~6% year over year to ~$38 million, reflecting continued growth in the hydrogen product line across Plug’s expanding customer base.”

The quarter that ended Sep 30, from the company's press release

The press release The filing on EDGAR

Where the sales came from

Where the quarter's sales came from
Line	Q3 2026	Q2 2026	Q3 2025
By product
Sales of Equipment and Related Infrastructureup 9.3%	$106M53%	$81.9M46%	$96.8M55%

Each quarter's sales and their share of its total. Figures as filed (SEC filing, Nov 9)

9 more lines, for Pro members.

The outlook

No outlook figures read from this release.

In the company's words

“Operating expenses declined approximately 69% year over year to ~$70 million, compared with approximately $229 million in Q3 2025, reflecting reduced unusual charges and continued execution of Project Quantum Leap.”

From its results filing (SEC filing · Nov 9)

2 more sentences, for Pro members.

The numbers

Market value: $1.9B; today
Sales: $768M; up 13.5% on the year
Free cash flow: -$486M; last 12 months

Sales grew 0.4% a year over 3 years, fiscal 2022 to 2025.

Its share count grew 9.7% a year over 3 years.

3 more figures, for Pro members.

No analyst estimates on Breakaway: every figure here is filed.

The whole report on PLUG: every line of its sales, every outlook beside the one it replaced, and the company's words, for Pro members.

Close after the report, last 3

+1.1%+5.2%-9.0%

May 11Aug 10Nov 9

Reported	When	Gap	Reaction	5 days
Nov 9, 2026After close	After close	+0.3%	-9.0%	not yet
Aug 10, 2026After close	After close	+17.5%	+5.2%	+8.1%
May 11, 2026After close	After close	+7.1%	+1.1%	-2.0%

PLUG closed higher after 3 of its last 4 reports.

All 4 reports, and PLUG's Quality Score going into each

PLUG sales and profit by year

Sales and profit by year

Sales grew in five of the last seven years, to $710M in 2025. It lost money in each of the eight years.

PLUG has 1 of 14 chart checks firing

Trend1 of 5 shown

MA FAN 21 EMA W.EMA HH/HL 52W HI

Volume1 of 3 shown

VOL VDU U/D VOL

Tight range1 of 3 shown

ATR SQZ SQUEEZE NR7

Buying1 of 3 shown

OBV+CLOSE HI SPRING

The other 10 checks on PLUG, and all 14 on every stock.Get in free →

PLUG RSI today: 39.7, below its 50-day and 200-day averages

Not scored

RSI 39.7, MACD above signal, below both averages. Not scored.13 readings

The deep dive on PLUG

What it does and how it makes money5 findingsAn operating loss of $1.47B in fiscal 2025, on $710M of sales.Annual report, filed Mar 2, 2026"We have a total of 52 issued patents currently active with the United States Patent and Trademark Office ('USPTO'), expiring between 2026 and 2044." (10-K for fiscal 2025)SEC filing · Mar 2, 2026
Where it stands4 findingsFor Pro members4 findings on where PLUG stands: its cash, debt, and share count, for Pro members
What changed in its filings2 findingsOne customer made up 24% of its revenue in fiscal 2025, up from 17% in fiscal 2024.SEC filing · Mar 2, 2026Backlog fell 12% in a year, to $614M on Sep 30, 2026 from $699M: sales under contract, not yet delivered.Filed figures, Sep 30, 2026
Who holds and trades it1 findingFor Pro members1 finding on who holds and trades PLUG, for Pro members
Against its closest peers1 peerShare count against a year before: PLUG +20%, FCEL +188%.

8 more findings on PLUG, each with its source, for Pro members.

PLUG share count over time

Shares: 20.3% more than a year ago (to Sep 30).

Shares of PLUG outstanding, as filed
Shares outstanding	As of
1.4B	Nov 4, 2026
1.4B	Aug 6, 2026
1.4B	May 6, 2026
1.39B	Feb 17, 2026

Offerings, shelves, and splits of PLUG, from its filings
From its filings	Filed
Priced a sale of shares	Oct 8, 2025

PLUG's officers and directors

Officers and directors with a Form 4 in the last 12 months.

Paul B. MiddletonCFO & Executive VP · no trades on file
Benjamin HaycraftCSO & GM EMEA · 7 trades
Jose Luis CrespoOfficer · 1 trade
Maureen O. HelmerDirector · 1 trade
Andrew MarshDirector · no trades on file
Colin M. AngleDirector · no trades on file
Gary K. WillisDirector · no trades on file
George C. McNameeDirector · no trades on file

4 more officers and directors file at PLUG.

See insider trades by person

Which ETFs hold PLUG?

In ETFs: PLUG is under 0.1% of VTI, the most of the 24 funds Breakaway covers, by their holdings as filed for Jun 30, 2026.

About Plug Power

Plug Power Inc is building an end-to-end green hydrogen ecosystem, from production, storage, and delivery to energy generation. The company plans to build and operate green hydrogen highways across North America and Europe. Plug will deliver its green hydrogen solutions directly to its customers and through joint venture partners into multiple end markets, including material handling, e-mobility, power generation, and industrial applications.

2,582 employeesSlingerlands, NYplugpower.com

What Plug Power says it competes with

“We experience competition in all areas of our business.”

From its annual report, SEC filing · Mar 2, 2026

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What would turn PLUG's score around: 9 things
5 more filings explained, a plain line each
3 more things pulling PLUG's score down

See PLUG's 14 chart checks

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Straight AnswersStraight Answers

As of Nov 10, 2026: PLUG's Quality Score is -4 (Poor), #7 of 9 in Power & Fuel Cells.

What does PLUG's Quality Score say?

PLUG scores -4 today, which Breakaway calls Poor. It is #7 of 9 in Electrical Industrial Apparatus by Quality Score, with 1 of 14 chart checks firing. Down 32% in 3 months while the S&P 500 fell 2%. Shares: 20.3% more than a year ago (to Sep 30). Breakaway does not say whether to buy any stock: the score does not know your situation, and it is not a recommendation to buy or sell anything. Please do your own research.

What is PLUG's Quality Score?

PLUG scores -4 today, which Breakaway calls Poor (below zero). That is #7 of 9 in Electrical Industrial Apparatus by Quality Score. The score adds up the chart checks, the trend, the company's filed sales, its profits, the news, insider trades, and Congress trades. The section above lists the lines behind PLUG's -4.

When does PLUG report earnings?

Expected to report Mon Mar 1, after the close, a date Breakaway expects from the company's usual timing; the company has not confirmed it. PLUG closed higher after 3 of its last 4 reports. Past behavior, not a forecast.

Are the prices delayed?

Only on the public pages, which run at least 15 minutes behind. Pro members, and anyone on a guest pass, see real-time prices: the scanner refreshes every 15 seconds, and your watchlist every few seconds, pre-market and after hours included.